Medtronic PLC $MDT Holdings Increased by Credit Agricole S A

Key Points

• Credit Agricole S A increased its holdings in Medtronic PLC by 5.7%, acquiring an additional 19,453 shares, bringing its total to 361,105 shares valued at approximately $32.4 million.
• Medtronic reported $1.26 earnings per share for the last quarter, surpassing analysts' expectations, and achieved revenue growth of 7.7% year-over-year.
• The company has declared a quarterly dividend of $0.71 per share, with a dividend yield of 3.2%, which will be paid on October 17th.

Credit Agricole S A grew its stake in shares of Medtronic PLC (NYSE:MDT - Free Report) by 5.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 361,105 shares of the medical technology company's stock after acquiring an additional 19,453 shares during the period. Credit Agricole S A's holdings in Medtronic were worth $32,449,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Burkett Financial Services LLC grew its holdings in Medtronic by 185.0% during the 1st quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company's stock worth $26,000 after acquiring an additional 185 shares in the last quarter. Wood Tarver Financial Group LLC acquired a new position in Medtronic during the 4th quarter worth $27,000. Columbia River Financial Group LLC acquired a new position in Medtronic during the 1st quarter worth $28,000. Optiver Holding B.V. acquired a new position in Medtronic during the 4th quarter worth $31,000. Finally, Hughes Financial Services LLC acquired a new position in Medtronic during the 1st quarter worth $32,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on MDT. Citigroup lifted their price target on shares of Medtronic from $99.00 to $101.00 and gave the company a "buy" rating in a report on Thursday. Wall Street Zen lowered shares of Medtronic from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Wolfe Research raised shares of Medtronic from an "underperform" rating to a "peer perform" rating in a report on Monday, June 30th. BTIG Research reaffirmed a "neutral" rating on shares of Medtronic in a report on Friday, July 11th. Finally, Truist Financial lifted their price target on shares of Medtronic from $92.00 to $96.00 and gave the company a "hold" rating in a report on Thursday. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, Medtronic presently has a consensus rating of "Moderate Buy" and a consensus price target of $101.15.

Medtronic Stock Performance

NYSE:MDT traded up $1.5210 during mid-day trading on Friday, hitting $92.6210. The stock had a trading volume of 4,870,626 shares, compared to its average volume of 7,618,189. The stock has a market capitalization of $118.72 billion, a price-to-earnings ratio of 25.52, a P/E/G ratio of 2.31 and a beta of 0.80. The company has a 50 day simple moving average of $89.73 and a 200-day simple moving average of $88.03. Medtronic PLC has a 52 week low of $79.29 and a 52 week high of $96.25. The company has a current ratio of 1.85, a quick ratio of 1.42 and a debt-to-equity ratio of 0.53.

Medtronic (NYSE:MDT - Get Free Report) last issued its quarterly earnings data on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.03. The firm had revenue of $8.58 billion for the quarter, compared to the consensus estimate of $8.37 billion. Medtronic had a net margin of 13.63% and a return on equity of 14.56%. Medtronic's quarterly revenue was up 7.7% compared to the same quarter last year. During the same period last year, the firm posted $1.23 EPS. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, research analysts expect that Medtronic PLC will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, September 26th will be given a $0.71 dividend. The ex-dividend date is Friday, September 26th. This represents a $2.84 annualized dividend and a yield of 3.1%. Medtronic's dividend payout ratio (DPR) is currently 78.24%.

Medtronic Profile

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.